By Toby Sterling
THE HAGUE (Reuters) – Dutch semiconductor sector startups are attracting an growing quantity of funding, the organisation arrange by the Financial Affairs Ministry to strengthen tech entrepreneurship within the Netherlands stated in its annual evaluate on Wednesday.
Enterprise capital funding for Dutch chip startups grew for the fifth consecutive yr in 2023, reaching 216 million euros ($234 million), the report by Techleap stated, helped by growing recognition of chip tools maker ASML as Europe’s largest tech agency.
The Netherlands can also be house to chipmaker NXP, and tools corporations ASM Worldwide and BE Semiconductor.
The report named two firms that obtained important funding within the photonics sector – photonics chips use mild moderately than electrons to make transistors – Sensible Photonics and Impact Photonics.
The report, a essential have a look at the relative place of Dutch startups, famous that Dutch corporations proceed to have issue in “scaling up” or rising previous their preliminary funding stage.
Once they do develop, they take longer to barter further funding than friends in Britain, Germany and France, and for much longer than in america. Dutch firms are additionally extra more likely to be purchased out earlier than reaching a 1 billion euro ($1.1 billion) valuation, as occurred with Reserving.com in 2005, now value greater than 100 billion euros.
Dutch funds agency Adyen and meals firm Simply Eat Takeaway are notable exceptions.
The report advisable the Netherlands emulate Sweden in attracting extra pension fund cash into funding offers, copying France and Britain in providing extra tax breaks to enterprise capital, and famous Germany is now granting better inventory possession to workers.
It stated the Netherlands is bettering at capitalising on its college analysis and in funding “deep tech” firms, these primarily based on engineering or scientific benefits – however it may do higher.
Among the many few Dutch synthetic intelligence startups, Weaviate, a platform for constructing AI software program functions, raised $50 million.
($1 = 0.9219 euros)
(Reporting by Toby Sterling; Modifying by Mark Potter)
Disclaimer: This report is auto generated from the Reuters information service. ThePrint holds no responsibilty for its content material.
